Caesars, Eldorado shareholders to meet Nov. 15 on merger plan
Shareholders for Caesars Entertainment Corp. and Eldorado Resorts Inc. will vote Nov. 15 on the planned $17.3 billion merger of the two companies, representatives said in a Securities and Exchange Commission filing Friday.
The merger would form the nation’s largest regional casino company. Caesars shareholders will meet at the Tuscana Chapel at Caesars Palace, while Eldorado shareholders will be at the Eldorado Resort in downtown Reno. Both meetings will begin at 9 a.m., according to the companies’ joint proxy statement.
Under terms of the deal, announced in June, Eldorado will pay $7.2 billion in cash and 77 million shares of stock to acquire 51 percent of the company. It also will take on Caesars’ existing debt.
The merger, which also is subject to regulatory approvals, is expected to close in the first quarter of 2020. The merged company will have 60 casinos with 51,000 hotel rooms, 71,000 slot machines and 3,650 table games. The company will take the Caesars name and be based in Reno.
Contact Richard N. Velotta at rvelotta@reviewjournal.com or 702-477-3893. Follow @RickVelotta on Twitter.